Santander are now refunding interest payments on Cahoot flexible loan's

fairydust30

Ive started drawing up a list of points I want to raise in my complaint letter. They are so far:

• a series of rate rises where in the space of two years 2006-2007 the APR doubles.
• The rate rises werent fair - there were so many, some minor, some major leaps and the final response to my complaint did not justify them!
• not notified of flexible to fixed change when Santy took over
• the current interest rate is not in line with current loan offerings on the market today - my APR is (well depends whether you believe the guy on the phone or my statements) 21.94% or 20% respectively
• I was never offered an alternative replacement when Santy took over
• the email I got advising me of change to santander said rate wouldnt rise yet it was 20% when last with cahoot and supposedly 21.94% now!
• the pages I got from Santy listing ins and outs shows 'Application' at the time of switchover. Was an application/credit check made? I did not agree to 'apply' for a fixed loan from Santy nor do/did I agree to any extra credit checks leaving footprints on my file.

please feel free to add if anyones interested in compiling a note form of points for complaint to FOS...

nicola2611

Hi can someone help, me and my husband both had a Cahoot loans from 2003 to 2007, I have manged to find on Equifax the followingBudget Card / Revolving Credit from Cahoot (I) / XXXXXXXXX070P is this the same thing as a flexible loan where people have been getting the refunds. How do I find the account number from so long ago and what do I need to put in the letter?


thanks

Cell

Hi Nicola:beer:.

Mine says

Budget Card / Revolving Credit from Santander Unsecured Loan (I) / XXXXXXXXXX3266

I guess that if it IS a flexi-loan (and circumstantially it looks like it) and you paid it off in 2007 then you'll have missed most of the increases, but worth a go.

emmapurple

I am really having trouble obtaining my SAR, they sent me one about a month and a half ago but they sent it for my mortgage not my flexi loan...not sure how they mixed account numbers as i couldnt have given them my mortgage number as dont know it! I immediately emailed the complaints department and then they phoned me but i missed the call and every time i have phoned back i have left a message but no response. I emailed again on monday and told them i would take it further if noone contacts me over this, and yet no contact from them once again. Anyone got any ideas whether i should report this to FOS as part of my original complaint or is there another route i can take to sort this??? any help gratefully recieved

Denza

emmapurple wrote: »

I am really having trouble obtaining my SAR, they sent me one about a month and a half ago but they sent it for my mortgage not my flexi loan...not sure how they mixed account numbers as i couldnt have given them my mortgage number as dont know it! I immediately emailed the complaints department and then they phoned me but i missed the call and every time i have phoned back i have left a message but no response. I emailed again on monday and told them i would take it further if noone contacts me over this, and yet no contact from them once again. Anyone got any ideas whether i should report this to FOS as part of my original complaint or is there another route i can take to sort this??? any help gratefully recieved

Hi,

Chase up the SAR with Cahoot directly on :

01274 369 222

If you have requested anything else from your SAR other than Cahoot data you may need to go via the Data Protection team at Santander. For this use the main switchboard initially :

0870 607 6000

The woman I spoke with there was actually very willing to help.

No one at Santy Help Desk appears to have any knowledge of where to track these requests I might add.

After a week of no one knowing what I was talking about (despite my cheque being cashed immediately on receipt) the eventual threat of escalation to the ICO yielded a 24 hour turnaround.

It should also be noted that though they sent the bulk of the Cahoot data requested they omitted a great deal including:

- All individual emails to myself
- All Santander statements
- All credit checks

I will admit that I have not chased them on the above as the content received served my purpose with respect to the FOS submission however I certainly made the FOS aware of the SAR processing as another example of their splendid customer service and account administration capabilities.

Good luck.

trsisko

Standard Clause 13 rejection letter sent out.

VanGoghsEarhere

Hi folks

I got my knockback letter about a month ago and have been contemplating the points to raise in my FOS complaint (BTW big thanks to fairydust30 & farmer1971 for the useful information provided above). Like many of you my statement states an APR of 20% (originally 8% - February 2003). I rang them and their CS told me my APR was in fact 21.9%. A few days later I asked for the APR in writing, and yes it stated 20%. Anyway just sent an email to Santander & Cahoot:
"Dear Sir / Madam

I would be grateful if you were to provide me with the following information in respect of account number XXXXXXXX.

• the current APR of this account
• a summary of all APR changes in this account since it was opened in January 2003 stating the applicable new APR and the date on which it took effect
• the reason for each change in APR citing the relevant sub-section in the 'variation of interest rates and charges' or 'variation of terms and conditions' which was applicable
• if this is currently a fixed loan or if funds can be drawn down on it, that is, is it still a flexible loan (if so, the amount which I can currently draw-down)
• a copy of the personal records which you hold on me as per my right under the Data Protection Act

Please contact me in writing if you are unable / unwilling to provide any / all of the information requested stating your reasons.

Regards"

Not confident about getting all the details I've requested or if they'll arrive this year :P. Do you think I should just submit my complaint to the FOS now and send through any additional information when / if I receive it?

Cheers in advance

tlh858

The FOS can get all the required information from Santander, there is little point in waiting for them to send it to you.

VanGoghsEarhere

PS. Reason for asking "if this is currently a fixed loan or if funds can be drawn down on it, that is, is it still a flexible loan (if so, the amount which I can currently draw-down)" is just for clarity. If, as many others reckon, the variable rate was applied because of the 'benefits' of the flexi-loan and these benefits have now been withdrawn how can they justify applying the same rate.

Denza

VanGoghsEarhere wrote: »

PS. Reason for asking "if this is currently a fixed loan or if funds can be drawn down on it, that is, is it still a flexible loan (if so, the amount which I can currently draw-down)" is just for clarity. If, as many others reckon, the variable rate was applied because of the 'benefits' of the flexi-loan and these benefits have now been withdrawn how can they justify applying the same rate.

They will probably tell you that it is flexible in that you may make ad hoc overpayments.

Good value for 21.9% APR I am sure you will agree.